Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 28

Prepare a contribution margin format income statement China Imports, Inc., sold 18,000 units in May. Per unit selling price and variable expense were $25 and $17, respectively. Fixed expense incurred for May totaled $120,000.
Required:
Prepare the May income statement for China Imports, Inc., in the contribution margin format.